2021-12-31-accounts

						Page
Reference and administrative	details ofthe company,	its trustees		and advisers
Trustees' report incorporating	the strategic report					2 —15
Independent auditor's report						16 —19
Consolidated statement offinancial activities (incorporating			consolidated		income	20
and expenditure account)
Consolidated balance sheet						21
Company balance sheet						22
Consolidated cash flow statement						23
Notes to the financial statements						24- 46

K Greenhouse gas e	missions and energy use dat	a f	or the period 1	January to 31De	cember:
				2021	2020
Energy consumption	used to calculate emissions	(kWh)		78,388,370	69,794,667
Energy consumption	break down (kWh):
gas				57&335,208	51,508,579
electricity				20,801,957	17,920,847
transport fuel				251,205	365,242
Scope 1 emissions in	metric tonnes CO2e
gas consumption				10,502	9,470
fugitive Emissions				Nil	nil
Total scope 1				10j502	9,470
Scope 2 emissions in	metric tonnes CO2e Purchased		electricity	4,417	4,178
Scope 3 emissions in metric tonnes CO2e Business employee owned vehicles			travel in	452	725
Total gross emissions	in metric tonnes CO2e			15,370	14,372
Intensity ratio				0.0035	0.0030
Tonnes CO2e per leisure centre visit

									(As
									Restated)
						Unrestricted	Restricted	Total	Total
						funds	funds	funds	funds
					Note	2021	2021	2021	2020
						$000	$000	$000	$000
Income:
Income from charitable		activities:
Community sports services						30,760		30,760	35,442
Investment income						1		1	2
Donation income						2,743	7,918	10,661	13,251
Other income						2,500		2,500
Total income						36,004	7,918	43,922	48,695
Expenditure on:
Expenditure on charitable			activities:
Operation ofcommunity		sports services				35,961	7,918	43,879	67,647
Total expenditure						35,961	7,918	43,879	67,647
Net income and net movement				in funds		43		43	(18,952)
foi the year
Actuarial (losses)/gains		on	defined	benefit		594		594	(141)
pension schemes
Net movement in funds						637		637	(19,093)
Reconciliation offunds:
Total funds brought	forward
As previously reported Prior period adjustment					18	(3,870) 770		(3,870) ~770	14,453
						(4,640)		(4,640)	14,453
Total funds carried forward						4,003		~4,003	~4,640

As at31Decemb	er	2	02	1
									(As restated)
							2021		2020
						Note	$000	$000	$000	$000
Fixed assets
Intangible assets								402		588
Tangible assets						12		19,886		22,899
								20,288		23,487
Current assets
Stocks							73
Debtors						14	2,320		3,157
Cash at bank and	in hand						6,628		5,674
							9,021		8,831
Creditors: amounts		falling due within			one year	15	~7,498		6,257
Net current assets/(liabilities)								1,523		2,574
Total assets less	current liabilities							21,811		26,061
Creditors: amounts		falling due after one year				16		(19,386)		(20,895)
Accruals and deferred			income			17		6,224		9,101
Net assets excluding			pension liability					(3,799)		(3,935)
Defined benefit pension				scheme liability		27		(204)		(705)
Net assets including			pension liability					4,003		4,640
Charity Funds
Restricted funds
Unrestricted funds:
Unrestricted funds	excluding pension				liability		(3,799)		(3,935)
Pension reserve							204		705
Total unrestricted	funds							4,003		4,640
Total funds ofthe		group				19

							(As restated)	(As restated)
					2021		2020
				Note	$000	$000	$000	$000
Fixed assets
Intangible assets						379		475
Tangible assets Investments				12 13		19,624 ~29		22,495 729
						20&732		23,699
Current assets
Stocks					71
Debtors				14	3,197		3,531
Cash at bank and in hand					5 038		5027
					8,306		8,558
Creditors: amounts	falling due within		one year	15	~7170		6040
Net assets/(liabilities)						1,136		2518
Total assets less current liabilities						21&868		26,217
Creditors: amounts falling due after one year Accruals and deferied income				16 17		(19,386) ~5783		(20,835) 8,892
Net assets excluding pension Defined benefit pension scheme		liability hability		27		(3&301) ~204		(3,510) ~705
Net assets including pension		liability				3505		4215
The funds ofthe	charity
Restricted funds:
Unrestricted funds:
Unrestricted funds	excluding pension		liability		(3&301)		(3,510)
Pension reserve					204		705
Total unrestricted	funds					3,505		4,215
Total charity funds				19		3,505		4,215

				2021	2020
			Note	$000	$000
Cash flows from operating activities
Net cash provided by operating activities			20	5,684	1,466
Cash flows from investing activities:
Cash acquired with Active Life
Purchase ofintangible fixed assets					(6)
Purchase oftangible fixed assets				(2,037)	(4,865)
Proceeds from sale offixed assets					3,022
Interest received				1	2
Cash inflows from new finance lease obligations
Interest paid				609	1,215
Net cash used in investing activities				2,645	3,062
Cash flows from financing activities:
Repayments ofborrowings				(1&163)	(3,992)
Repayment offinance lease obligations				(922)	(434)
Cash inflows from new loans					13,311
Net cash provided/(used) by financing		activities		2&085	8,885
Change in cash and cash equivalents	in	the year		954	4,357
Cash and cash equivalents brought forward				5,674	1,317
Cash and cash equivalents carried forward				6&628	5,674

2021	2020
$000	$000
10,661	13,251

2021	2020
$000	$000
2,500

			Staffcosts	Support	Direct	Fixed	Total	Total
				costs	costs	asset	funds	funds
			$000	$000	$000	disposal	2021	2020
						$000	$000	$000
Community	sports	service	20,511	21,991	1,335	42	43,879	67,647

Analysis ofsupport	and governance	costs
		General	Governance	Total	Total
		support	function	2021	2020
		$000	$000	$000	$000
ITcosts		1,514		1,514	1,318
Finance costs		1,030		1,030	1,664
Marketing materials		690		690	637
Administration		3,288		3)288	7,190
Other staff related costs		581		581	442
Facilities management	costs	9,646		9,646	10,845
Amortisation		185		185	195
Depreciation		5,009		5,009	6,667
Auditor Fees			48	48	36
Trustee expenses

			2021	2020
			$000	$000
Divestment Costs				6,272
COVID secure implementation		costs		410
Staffrestructuring costs				1,860
Depreciation oftangible	fixed	assets:
-owned by the group			5,009	6,667
Auditor's remuneration:
—Company			34	30
- Subsidiary			14
Amortisation ofpre-contract		costs	94	105
Amortisation ofgoodwill				90

Staff costs were as	follows:
					(Restated)
				2021	2020
				$000	$000
Wages and salaries				18,641	27,450
Social security costs				1,080	1,437
Other pension costs				790	911
					29Z28
Staffrestructuring	costs				1,860
The average number ofpersons		employed	by the company	during the year was as follows:
				2021	2020
				No.	No.

Th	e n	umber	ofhigher paid employees was:
				2021	2020
				No.	No.
In	the	band	$60,001 —+0,000	5	4
In	the	band	+0,001 —$80,000	4	3
In	the	band	$80,001 —$90,000	2	1
In	the	band	$90,001 - $100,000	1
In	the	band	$100,001 —$110,000
In	the	band	$120,001 —$130,000
In	the	band	$140,001 —$150,000
In	the	band	$170,001 —$180,000
In	the	band	$190,001 —$200,000

Intangible fixed assets
	Pre contract
	costs	Goodwill	Total
Group	$000	$000	$000
Cost
At 1January 2021	1,390	700	2,090
Additions
Disposals	(3)		(3)
At 31December 2021	~138	700	g 087
Amortisation
At 1January 2021	916	586	1,502
Charge for the year	94	91	185
Disposals	(2)		(2)
At 31December 2021	~1008	677	~1685
Carrying amount
At 31December 2021
At 31December 2020

11. Intangible fixed assets co	ntinued
	Pre contract costs
Company	$000
Cost
At 1January 2021	1,391
Additions
Disposals	(4)
At 31December 2021	1387
Amortisation
At 1January 2021	916
Charge for the year	94
Disposals	(2)
At 31December 2021	1 0(08
Carrying amount
At 31December 2021
At 31December 2020

12. Tangible fixed	assets
	L asehold improvements	Assets in course of construction	Motor vehicles	E quipment	Computer systems	Total
Group	$000	$000	$000	$000	$000	$000
Cost
At 1January 2021	29,072	185		22,322	3,277	54,858
Additions	1,337			605	95	2,037
Transfer ofassets
completed in year
Disposals	(192)			(613)		(805)
At 31December 2021	30,217	185		22 31	3372	56090
Depreciation
At 1January 2021	12,365			16,876	2,716	31,959
Charge for the year	2,197			2,479	333	5,009
Disposals	(189)			(575)		(764)
At 31December 2021	14373			18780	3049	36204
Net book value
At 31December 2021
At 31December 2020

		2021	2020
Group		$000	$000
Land and	buildings
Furniture,	fittings and equipment

	L asehold improvements	Assets in course of construction	Motor vehicles	Equipment	Computer systems	Total
Company	$000	$000	$000	$000	$000	$000
Cost
At 1January 2021	28,932	185		21,822	3,277	54,218
Additions	1,337			601	95	2,033
Transfer ofassets
completed in year
Disposals	(192)			(613)		(805)
At 31December 2021	30077	185		21 810	3372	55446
Depreciation
At 1January 2021	12,236			16,766	2,719	31,723
Charge for the year	2,169			2,362	333	4,864
Disposals	(189)			(575)		(764)
At 31December 2021	14216			18553	3052	35823
Net book value
At 31December 2021
At 31December 2020

		2021	2020
Company		$000	$000
Land and	buildings	17032	1,128
Furniture,	fittings and equipment	~1078	~1625

Investments in subsidiaries
	Shares in
	group
	undertakings
Company	$000
Cost
At 1January 2021	729
At 31December 2021	729

							Profit/	Net Assets
					Percentage		(Loss)	2021
Company	name			Country	Shareholding	Description	2021	$000
							$000
Virgin Active Management			Limited	England	100%	Sports and leisure
Registered	number:	02353684				facilities
Active Life				England	100%	Sports and leisure
Registered	number:	04376721				facilities	18	177

Debtors
		Grou		Com	an
		2021	2020	2021		2020
		$000	$000	$000		$000
Trade debtors		405	965	394		965
Amounts owed by group undertakings				900		373
Other debtors		122	408	122		408
Prepayments	and accrued income	1,793	1,784	1,781		1,784
		2&320	3,157	3,197		3,530

		Grou		Com	an
		2021	2020	2021		2020
		$000	$000	$000		$000
Other loans		669	1,065	657		1,015
Net obligations	under finance leases and
hire purchase	contracts	827	1,007	780		952
Trade creditors		3&007	2,640	2,865		2,640
Amounts owed	to group undertakings
Other taxation	and social security	386	1,487	352		1,378
Other creditors		2,609	58	2,516		55
		7,498	6,257	7,170		6,040

Creditors:	Amounts falling due after	more than one y	ear
		Grou		Com an
		2021	2020	2021	2020
		$000	$000	$000	$000
Other loans		19,007	19,774	19,007	19,761
Net obligations	under finance leases and
hire purchase	contracts	379	1,121	379	1,074
		19&386	20,895	19&386	20,835

Other loans are repayable as follo	ws:
	Grou		Com	an
	2021	2020	2021		2020
	$000	$000	$000		$000
Less than 1 year	669	1,065	657		1,015
2 to 5years	14,165	14,750	14,165		14,737
Over 5 years	4,842	5,024	4,842		5,024
Total	19,676	20,839	19&664		20,776

	Grou		Com	an
	2021	2020	2021		2020
	$000	$000	$000		$000
Less than 1 year	827	1,007	780		952
2to 5years	379	1,121	379		1,074
Over 5 years
Total	1,206	2,128	1,159		2,026

Accruais	and deferred income
		Grou			Com	an
			(As	restated)		(As	restated)
		2021		2020	2021		2020
		$000		$000	$000		$000
Accruals		5&911		8,743	5,519		8,534
Deferred	income	313		358	264		358
		6&224		9,101	5&783		8,892

		Prior period	Prior period
Group	As previously	adjustment	for	As restated
	stated	annual	leave
		accrual
			$000	$000
Profit and loss account 2020
Income	48,695			48,695
Expenditure
Staff costs	(30,888)		(770)	(31,658)
Other categories	(35,989)			(35,989)
Actuarial losses	(141)			(141)
Net movement in funds	(18,323)		(770)	(19,093)
Total funds bought forward	14,453			14,453
Total funds carried forward	(3,870)		(770)	(4,640)
Balance sheet as at31December 2020
Unrestricted funds
General funds —all	(3,165)		(770)	(3,935)
Pension reserve	(705)			(705)
Total unrestricted funds	(3,870)		(770)	(4,640)

70K for the Group	. The revised deficit for the group	for year ended 31Decemb	er 2020 was $19,	er 2020 was $19,	093K.
			Prior period
Company		As previously stated	adjustment annual	for leave	As restated
			accrual
				$000	$000
Profit and loss account 2020
Income		45,287			45,287
Expenditure
Staff costs		(28,171)		(559)	(28,730)
Other categories		(34,915)			(34,915)
Actuarial losses		(141)			(141)
Net movement in funds		(17,940)		(559)	(18,499)
Total funds bought	forward	14,284			14,284
Total funds carried forward		(3,656)		(559)	(4&215)
Balance sheet as at 31December 2020
Unrestricted funds
General funds —all		(2,951)		(559)	(3,510)
Pension reserve		(705)			(705)
Total unrestricted	funds	(3,656)		(559)	(4,215)

. Statem	ent o	f Funds
			(As restated)
Group			Brought	Income	Expense	Gains/	Carried
			Forward			(Losses)	Forward
			$000		$000	$000	$000
Unrestricted funds
General	Funds	—all	(3,935)	36,004	(35,868)		(3,799)
Pension	reserve		(705)		(93)	594	(204)
Restricted	funds
National	Leisure Recovery Fund			4,612	(4,612)
Coronavirus Job Retention Scheme				3,306	(3,306)
			4,640	43,922	43,879	594	4&003
			(As restated)
Company			Brought	Income	Expense	Gains/	Carried
			Forward			(Losses)	Forward
			$000	$000	$000	$000	$000
Unrestricted funds
General	Funds	—all	(3,510)	33,576	(33,367)		(3&301)
Pension	reserve		(705)		(93)	594	(204)
Restricted	funds
National	Leisure Recovery Fund			4,236	(4,236)
Coronavirus Job Retention Scheme				2,506	(2,506)
			4,215	40,318	40,202	594	3,505

Group
	Unrestricted Funds	Restricted Funds	2021Funds	2020 Funds
	$000	$000	$000	$000
Fixed Assets	20,288		20,288	23,487
Current Assets	9,021		9,021	8,831
Current Liabilities	(13,722)		(13,722)	(15,358)
Long Term Liabilities	(19,386)		(19,386)	(20,895)
Pension Liability	(204)		(204)	(705)
Total	(4,003)		(4&003)	(4,640)

Company
	Unrestricted Funds	Restricted Funds	2021Funds	2020 Funds
	$000	$000	$000	$000
Fixed Assets	20,732		20,732	23,699
Current Assets	8,191		8,191	8,558
Current Liabilities	(12,838)		(12,838)	(14,932)
Long Term Liabilities	(19,386)		(19,386)	(20,835)
Pension Liability	(204)		(204)	(705)
Total	(3,505)		(3,505)	(4,215)

						(As restated)
					2021	2020
					$000	$000
Net incoming/(outgoing)		resources			637	(19,093)
Movements on defined	benefit		scheme (incL actuarial adjustments)		(501)	230
Interest received					(1)	(2)
Interest paid					609	1,215
Amortisation ofintangible		fixed assets			185	195
Depreciation oftangible	fixed		assets		5,009	6,667
Loss on disposal ofassets		(tangible		Bcintangible)	42	5,557
(Increase)/Decrease in	stocks				(73)	184
Decrease in debtors					837	383
Decrease/(increase) in	creditors (excl. other loans Bchire purchase
liabilities)					1,060	3,198
Net cash used in operating			activities		5,684	1,466

			2021	2020
			$000	$000
Cash	in	hand	6,628	5,674
Total			6,628	5,674

Analysis ofchanges in	net debt
	31.12.2020	Cash Flows	Non-Cash	Changes	31.12,2021
			New	Other
			Finance	Non-Cash
			Leases	Changes
Cash in hand	5,674	954			6,628
Debt due within one year	(2,072)	576			(1,496)
Debt due greater than	(20,895)	1,509			(19,386)
one year	17,293	3,039			~14,254

Total future minimum lease payments under non-cancel	lable leases:
	2021	2020
Expiring:	$000	$000
within 1 year	217	192
between one and five years	1,505	804
in more than 5 years	13,519	13,342
Total	15,241	14,338

The amounts recognised	in the Balance sheet are as follows:
		2021	2020
		$000	$000
Present value offunded	obligations	5)603	6,114
Fair value ofscheme assets		5,510	5,255
Deficit in schemes		(93)	(859)
Surplus not recognised	in Virgin Active Management	334	69
		(427)	(928)
Indemnity		223	223
Net liability		204	705

The amounts recognised in the Statement offinancial activities are as follows:
	2021	2020
	$000	$000
Service cost	(35)	(33)
Interest on obligation	(12)	(14)
Administration expenses	(46)	(42)
Expected return on scheme assets
Total	(93)	(89)
Actual return on scheme assets
Movements in the present value ofthe defined benefit obligation were as follows:
	2021	2020
	$000	$000
Opening defined benefit obligation	6,114	5,431
Interest cost	79	113
Contributions by scheme participants	4	5
Actuarial losses	(475)	1,132
Benefits paid	(56)	(163)
Experience Gain on defined benefit contribution	(98)	(437)
Current service cost	35	33
Closing defined benefit obligation

Changes in th	e fair value ofscheme assets were as follows:
		2021	2020
		$000	$000
Opening fair	value ofscheme assets	5,255	4,895
Expected return on assets		13	19
Contributions	by employer	63	90
Contributions	by scheme participants	4	5
Admin expenses		(53)	(49)
Interest costs		54	80
Return on assets		230	362
Benefits paid		(56)	(163)
Other actuarial gains / (losses)			16
The major categories ofscheme assets as a percentage oftotal scheme assets are as follows:
		2021	2020
			0/
Equities		51.5%	60.1%
Property		8.7%	8.1%
Government	bonds	0.5%	0.5%
Cash and other assets		14.1%	10.4%
Other bonds		25.2%	20.9%
		100.0%	100.0%

Principal actuarial assumptions at the Balance sheet date (expressed	as weighted averages):
	2021	2020
Discount rate at 31December	1.88%	1.33%
Expected return on scheme assets at 31December	1.88%	1.33%
Future salary increases	3.65%	3.25%
Future pension increases	3.08%	2.73%
Inflation (CPI)	2.80%	2.35%

Assumed	life expectations	life expectations	from	age 65	are:			2021	2020
								years	years
Retiring	today:			Males				21.9	21.9
				Females				24.1	24.0
Retiring	in 20 years:			Males				23.3	23.3
				Females				25.5	25.5
Amounts	for the current		and previous		four periods	are as follows:
Defined	benefit pension	schemes
					2021	2020	2019	2018	2017
					$000	$000	$000	$000	$000
Defined	benefit obligation				5,603	(6,114)	(5,432)	(4,671)	(5,269)
Scheme	assets				5,510	5,255	4,895	4,266	4,395
Surplus not recognised		in
Virgin	Active Management				(334)	(69)	(162)	(116)	(78)
Deficit					(427)	(928)	(698)	(521)	(952)
Experience adjustments		on
scheme liabilities					(98)	(437)			(688)
Experience adjustments		on
scheme assets